The Chartered Institute of Internal Auditors (Chartered IIA) has raised concerns about the lack of internal audit functions in major broadband providers, warning of increased risks for company failures. Six broadband companies, serving around two million customers, do not have internal audit capabilities. The Chartered IIA has called on Ofcom to set clear expectations for implementing internal audit processes to improve governance and risk management. Regulatory bodies like Ofgem have required disclosure of internal audit capabilities in other industries. The Chartered IIA emphasizes the need for enhanced governance and oversight in the broadband sector to prevent potential failures and ensure the UK’s digital infrastructure remains strong.

Read more at Yahoo Finance: Chartered IIA concern over internal audit in broadband sector